आवर्ती जमा बनाम सावधि जमा: कौन सा बेहतर है?

Updated on January 20, 2026 , 10568 views

आवर्ती जमा बनाम सावधि जमा? सोच रहे हैं कि अपना पैसा कहां बचाएं? खैर, कई बार निवेशक भ्रमित हो जाते हैं कि आवर्ती जमा (आरडी) में निवेश करें या सावधि जमा (एफडी) हालांकि वे सबसे लोकप्रिय बचत योजनाएं हैं, विशेष रूप से जोखिम से बचने वाले निवेशकों के बीच, यह समझना महत्वपूर्ण है कि आरडी और एफडी एक दूसरे से कैसे भिन्न हैं और कौन सा बेहतर हैनिवेश विकल्प।

आवर्ती जमा (आरडी)

आरडी एक हैवित्तीय साधन मुख्य रूप से बचत को प्रोत्साहित करने की दिशा में निर्देशित। इस योजना में, निवेशकों के पास हर महीने एक विशिष्ट राशि को या तो एक में बचाने की सुविधा होती हैबैंकया वित्तीय संस्थान का आरडी खाता पूर्व निर्धारित अवधि के लिए और इस राशि पर ब्याज अर्जित करें। परिपक्वता पर, मूल राशि के साथ ब्याज का भुगतान किया जाता है।

सावधि जमा (एफडी)

सावधि जमा एक प्रकार के वित्तीय साधन हैं जो बैंकों द्वारा एक निश्चित पूर्वनिर्धारित अवधि के लिए प्रदान किए जाते हैं और aब्याज की निश्चित दर. इस योजना में FD खाता बनाते समय एक बार एक निश्चित राशि जमा की जाती है। कार्यकाल के अंत में, चुने हुए कार्यकाल के लिए ब्याज राशि की गणना मूल राशि के साथ की जाती है और कुल राशि का भुगतान संचयी रूप से किया जाता है।

आवर्ती जमा बनाम सावधि जमा

मापदंडों	आवर्ती जमा (आरडी)	सावधि जमा (एफडी)
कार्यकाल	आरडी का कार्यकाल आमतौर पर 6 महीने से लेकर 10 साल तक होता है	FD योजना का कार्यकाल 7 दिनों से 10 वर्ष के बीच होता है
ब्याज गणना	कंपाउंडिंग आम तौर पर आरडी योजना के लिए हर तिमाही पर ब्याज मिलता है	FD में, चक्रवृद्धि ब्याज की गणना हर साल अर्जित ब्याज पर की जाती है
पात्रता	सभी निवासी भारतीय और हिंदू अविभाजित परिवार (HUF) RD खाता खोलने के पात्र हैं। यह खाता नाबालिगों के लिए उनके माता-पिता या कानूनी अभिभावकों द्वारा भी खोला जा सकता है	सभी निवासी भारतीय और हिंदू अविभाजित परिवार (एचयूएफ) एक सावधि जमा खाता खोलने के पात्र हैं
कर लाभ	इस योजना में कोई कर लाभ नहीं दिया जाता है	सावधि जमा के लिए, के तहत कर छूटधारा 80सी काआयकर अधिनियम 1961 लागू है। यह 5 साल से अधिक की जमाराशियों के लिए लागू है (मौजूदा कानूनों के अनुसार)
प्रतिफल दर	ब्याज दर FD के समान है लेकिन आमतौर पर, कार्यकाल और मासिक निवेश राशि पर निर्भर करती है	ब्याज दर RD के समान है लेकिन निर्भर करती हैराजधानी और कार्यकाल चुना गया
अतिरिक्त लाभ	अधिकांश बैंक जमा मूल्य के 90% तक ऋण प्रदान करते हैं	अधिकांश बैंक जमा मूल्य के 70% - 90% तक ऋण प्रदान करते हैं।
निकासी	कुछ मामलों में, बिना दंड के समय से पहले निकासी की अनुमति है। जबकि कुछ बैंक जुर्माना लगा सकते हैं	दंड के साथ समयपूर्व निकासी की अनुमति है
आय रुचि	आरडी पर अर्जित ब्याज कर योग्य है और अधिकांश बैंक टीडीएस काटते हैं	FD पर अर्जित ब्याज कर योग्य है और अधिकांश बैंक TDS काटते हैं

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आवर्ती जमा बनाम सावधि जमा: अधिक कमाई कहां से करें?

चूंकि आरडी और एफडी दोनों जोखिम से बचने वाले निवेशकों के लिए उपयुक्त हैं, इसलिए अंतिम विकल्प किसी की जरूरतों पर निर्भर करता है। एक FD खाते में, जमा की गई प्रारंभिक एकमुश्त राशि पर ब्याज संयोजित होता है। जमा की गई पूरी राशि पर एक साल का ब्याज मिलता है। हालांकि, आरडी में, केवल पहली जमा राशि पर पहले साल यानी 12 महीने के लिए ब्याज मिलता है। दूसरी जमा राशि पर 11 महीने के लिए, तीसरे पर 10 महीने के लिए ब्याज मिलता है, इत्यादि। कंपाउंडिंग प्रभाव सावधि जमा को निवेशकों के लिए उच्च रिटर्न उत्पन्न करने में सक्षम बनाता है।

हालांकि समय के साथ, कोई व्यक्ति सावधि जमा (उदाहरण नीचे दिखाया गया है) के साथ अधिक पैसा कमा सकता है, लेकिन इसमें मासिक छोटी राशि जमा करने में सक्षम होने के मामले में आवर्ती जमा खाते की लचीलापन नहीं है। इसलिए, जिनके पास निवेश करने के लिए एकमुश्त राशि नहीं है, वे मासिक निवेश को प्राथमिकता दे सकते हैं।

बेहतर समझ के लिए, हमने दोनों योजनाओं में अंतर को स्पष्ट किया है। इसलिए उपयोगकर्ता स्पष्ट रूप से समझ सकते हैं और अच्छी तरह से चुन सकते हैं।

चित्रण:

आइए मान लें कि आप निवेश करते हैंINR 1000 (मासिक एक वर्ष के लिए) एक आवर्ती जमा में और आपने एकमुश्त निवेश किया हैINR 12,000 वर्ष की शुरुआत में सावधि जमा में। ये दोनों उत्पाद आपको तिमाही चक्रवृद्धि ब्याज 9 प्रतिशत प्रदान करते हैं। ऐसाआय इन दो योजनाओं में से नीचे दिया गया है-

विवरण	आवर्ती जमा (आरडी)	सावधि जमा (एफडी)
निवेश की गई राशि	INR 5,000 (मासिक)	INR 60,000 (एकमुश्त)
कार्यकाल	12 महीने	12 महीने
वार्षिक ब्याज दरें	6%	6%
अर्जित की गई कुल राशि	INR 61,986	INR 63,701
शुद्ध लाभ	INR 1,986	INR 3,701

अब जब आप RD और FD के बीच मुख्य अंतर जानते हैं, तो आप किसी एक को चुन सकते हैं और समझदारी से निवेश कर सकते हैं। हालांकि FD, RD की तुलना में बेहतर ग्रोथ देता है, लेकिन ज्यादातर समय, आपकी सभी जरूरतों को पूरा करने के लिए किसी एक इंस्ट्रूमेंट के लिए संभव नहीं है। इसलिए, जब आपके पास निवेश करने के लिए एकमुश्त राशि नहीं है, तो आप हर महीने अपनी आय में से एक छोटी राशि बचा सकते हैं और एक आवर्ती जमा में निवेश कर सकते हैं!

अन्य विकल्प

लिक्विड/अल्ट्रा शॉर्ट डेट म्यूचुअल फंड

1. Essel Liquid Fund

To provide high level of liquidity with reasonable returns commensurating with low risk through a portfolio of money market & debt securities. However, there can be no assurance that the investment objective will be achieved. The scheme does not assure or guarantee any returns.

Research Highlights for Essel Liquid Fund

Bottom quartile AUM (₹69 Cr).
Established history (15+ yrs).
Rating: 4★ (top quartile).
Risk profile: Low.
1Y return: 5.98% (bottom quartile).
1M return: 0.46% (upper mid).
Sharpe: 0.05 (bottom quartile).
Information ratio: 0.00 (top quartile).
Yield to maturity (debt): 7.12% (top quartile).
Modified duration: 0.06 yrs (top quartile).
Average maturity: 0.06 yrs (top quartile).
Exit load: NIL.
Higher exposure to Cash Equivalent (bond sector) vs peer median.
Conservative stance with elevated cash (~99%).
High-quality debt (AAA/AA ~100%).
Largest holding India (Republic of) (~14.4%).

Below is the key information for Essel Liquid Fund

Essel Liquid Fund Growth
Launch Date	19 Feb 10
NAV (22 Jan 26)	₹29.2653 ↑ 0.01 (0.02 %)
Net Assets (Cr)	₹69 on 31 Dec 25
Category	Debt - Liquid Fund
AMC	Essel Funds Management Company Ltd
Rating	☆☆☆☆
Risk	Low
Expense Ratio	0.2
Sharpe Ratio	0.05
Information Ratio	0
Alpha Ratio	0
Min Investment	1,000
Min SIP Investment	500
Exit Load	NIL
Yield to Maturity	7.12%
Effective Maturity	22 Days
Modified Duration	22 Days

Growth of 10,000 investment over the years.

Date	Value
31 Dec 20	₹10,000
31 Dec 21	₹10,339
31 Dec 22	₹10,864
31 Dec 23	₹11,604
31 Dec 24	₹12,409
31 Dec 25	₹13,164

Essel Liquid Fund SIP Returns

Total investment amount is ₹180,000
expected amount after 3 Years is ₹197,169.
Net Profit of ₹17,169 Invest Now

Returns for Essel Liquid Fund

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 22 Jan 26

Duration	Returns
1 Month	0.5%
3 Month	1.4%
6 Month	2.7%
1 Year	6%
3 Year	6.6%
5 Year	5.7%
10 Year
15 Year
Since launch	7%

Historical performance (Yearly) on absolute basis

Year	Returns
2024	6.1%
2023	6.9%
2022	6.8%
2021	5.1%
2020	3.4%
2019	3.7%
2018	6.2%
2017	7.4%
2016	6.8%
2015	7.8%

Fund Manager information for Essel Liquid Fund

Name	Since	Tenure
Tanmay Sethi	1 Feb 24	1.92 Yr.

Data below for Essel Liquid Fund as on 31 Dec 25

Asset Allocation

Asset Class	Value
Cash	99.33%
Other	0.67%

Debt Sector Allocation

Sector	Value
Cash Equivalent	56.15%
Government	28.81%
Corporate	14.38%

Credit Quality

Rating	Value
AA	7.06%
AAA	92.94%

Top Securities Holdings / Portfolio

Name	Holding	Value	Quantity
India (Republic of) - \| -	14%	₹10 Cr	1,000,000
Small Industries Development Bank Of India Debentures \| -	7%	₹5 Cr	500,000 ↑ 500,000
India (Republic of) - \| -	7%	₹5 Cr	500,000
Kotak Mahindra Bank Limited Certificate of Deposit \| -	7%	₹5 Cr	500,000
Treps/Reverse Repo/Net Current Assets/Cash/Cash Equivalent CBLO/Reverse Repo \| -	7%	₹5 Cr
HDFC Bank Limited Certificate of Deposit \| -	7%	₹5 Cr	500,000
National Bank For Agriculture And Rural Development Certificate of Deposit \| -	7%	₹5 Cr	500,000
Bajaj Financial Securities Ltd Commercial Paper \| -	7%	₹5 Cr	500,000
LIC Housing Finance Ltd Commercial Paper \| -	7%	₹5 Cr	500,000 ↑ 500,000
Time Technoplast Limited ( Formerly Time Packaging Limited) Commercial Paper \| -	7%	₹5 Cr	500,000

2. IDBI Ultra Short Term Fund

The objective of the Scheme will be to provide investors with regular income for their investment by investing in debt and money market instruments with relatively lower interest rate risk, such that the Macaulay duration of the portfolio is maintained between 3 months to 6 months. However, there can be no assurance that the investment objective of the Scheme will be realized.

Research Highlights for IDBI Ultra Short Term Fund

Bottom quartile AUM (₹146 Cr).
Established history (15+ yrs).
Rating: 1★ (bottom quartile).
Risk profile: Moderately Low.
1Y return: 6.39% (bottom quartile).
1M return: 0.52% (top quartile).
Sharpe: -0.57 (bottom quartile).
Information ratio: 0.00 (top quartile).
Yield to maturity (debt): 6.83% (top quartile).
Modified duration: 0.19 yrs (upper mid).
Average maturity: 0.23 yrs (upper mid).
Exit load: NIL.

Below is the key information for IDBI Ultra Short Term Fund

IDBI Ultra Short Term Fund Growth
Launch Date	3 Sep 10
NAV (28 Jul 23)	₹2,424.68 ↑ 0.44 (0.02 %)
Net Assets (Cr)	₹146 on 30 Jun 23
Category	Debt - Ultrashort Bond
AMC	IDBI Asset Management Limited
Rating	☆
Risk	Moderately Low
Expense Ratio	0.6
Sharpe Ratio	-0.57
Information Ratio	0
Alpha Ratio	0
Min Investment	5,000
Min SIP Investment	500
Exit Load	NIL
Yield to Maturity	6.83%
Effective Maturity	2 Months 23 Days
Modified Duration	2 Months 10 Days

Growth of 10,000 investment over the years.

Date	Value
31 Dec 20	₹10,000
31 Dec 21	₹10,395
31 Dec 22	₹10,864

IDBI Ultra Short Term Fund SIP Returns

Total investment amount is ₹180,000
expected amount after 3 Years is ₹197,169.
Net Profit of ₹17,169 Invest Now

Returns for IDBI Ultra Short Term Fund

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 22 Jan 26

Duration	Returns
1 Month	0.5%
3 Month	1.6%
6 Month	3.4%
1 Year	6.4%
3 Year	4.8%
5 Year	5.5%
10 Year
15 Year
Since launch	7.1%

Historical performance (Yearly) on absolute basis

Year	Returns
2024
2023
2022
2021
2020
2019
2018
2017
2016
2015

Fund Manager information for IDBI Ultra Short Term Fund

Name	Since	Tenure

Data below for IDBI Ultra Short Term Fund as on 30 Jun 23

Asset Allocation

Asset Class	Value

Debt Sector Allocation

Sector	Value

Credit Quality

Rating	Value

Top Securities Holdings / Portfolio

Name	Holding	Value	Quantity

3. ICICI Prudential Ultra Short Term Fund

(Erstwhile ICICI Prudential Regular Income Fund)

The fund’s objective is to generate regular income through investments primarily in debt and money market instruments. As a secondary objective, the Scheme also seeks to generate long term capital appreciation from the portion of equity investments under the Scheme.

Research Highlights for ICICI Prudential Ultra Short Term Fund

Top quartile AUM (₹16,907 Cr).
Established history (14+ yrs).
Rating: 3★ (upper mid).
Risk profile: Moderate.
1Y return: 6.88% (top quartile).
1M return: 0.36% (lower mid).
Sharpe: 2.94 (top quartile).
Information ratio: 0.00 (upper mid).
Yield to maturity (debt): 6.82% (upper mid).
Modified duration: 0.47 yrs (lower mid).
Average maturity: 0.61 yrs (bottom quartile).
Exit load: 0-1 Months (0.5%),1 Months and above(NIL).
Top sector: Energy.
Higher exposure to Corporate (bond sector) vs peer median.
Conservative stance with elevated cash (~64%).
High-quality debt (AAA/AA ~100%).
Largest holding National Bank For Agriculture And Rural Development (~3.9%).

Below is the key information for ICICI Prudential Ultra Short Term Fund

ICICI Prudential Ultra Short Term Fund Growth
Launch Date	3 May 11
NAV (22 Jan 26)	₹28.6252 ↑ 0.02 (0.06 %)
Net Assets (Cr)	₹16,907 on 31 Dec 25
Category	Debt - Ultrashort Bond
AMC	ICICI Prudential Asset Management Company Limited
Rating	☆☆☆
Risk	Moderate
Expense Ratio	0.8
Sharpe Ratio	2.94
Information Ratio	0
Alpha Ratio	0
Min Investment	5,000
Min SIP Investment	1,000
Exit Load	0-1 Months (0.5%),1 Months and above(NIL)
Yield to Maturity	6.82%
Effective Maturity	7 Months 10 Days
Modified Duration	5 Months 19 Days

Growth of 10,000 investment over the years.

Date	Value
31 Dec 20	₹10,000
31 Dec 21	₹10,400
31 Dec 22	₹10,873
31 Dec 23	₹11,624
31 Dec 24	₹12,495
31 Dec 25	₹13,380

ICICI Prudential Ultra Short Term Fund SIP Returns

Total investment amount is ₹180,000
expected amount after 3 Years is ₹200,132.
Net Profit of ₹20,132 Invest Now

Returns for ICICI Prudential Ultra Short Term Fund

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 22 Jan 26

Duration	Returns
1 Month	0.4%
3 Month	1.3%
6 Month	2.8%
1 Year	6.9%
3 Year	7.1%
5 Year	6%
10 Year
15 Year
Since launch	7.4%

Historical performance (Yearly) on absolute basis

Year	Returns
2024	7.1%
2023	7.5%
2022	6.9%
2021	4.5%
2020	4%
2019	6.5%
2018	8.4%
2017	7.5%
2016	6.9%
2015	9.8%

Fund Manager information for ICICI Prudential Ultra Short Term Fund

Name	Since	Tenure
Manish Banthia	15 Nov 16	9.13 Yr.
Ritesh Lunawat	15 Jun 17	8.55 Yr.

Data below for ICICI Prudential Ultra Short Term Fund as on 31 Dec 25

Asset Allocation

Asset Class	Value
Cash	63.83%
Debt	35.9%
Other	0.27%

Debt Sector Allocation

Sector	Value
Corporate	64.79%
Cash Equivalent	31.87%
Government	3.07%

Credit Quality

Rating	Value
AA	17.57%
AAA	82.43%

Top Securities Holdings / Portfolio

Name	Holding	Value	Quantity
National Bank For Agriculture And Rural Development Debentures \| -	4%	₹662 Cr	66,000
6.22% Govt Stock 2028 Sovereign Bonds \| -	4%	₹613 Cr	60,843,000 ↓ -1,842,100
364 DTB 15012026 Sovereign Bonds \| -	3%	₹499 Cr	50,000,000
RADHAKRISHNA SECURITISATION TRUST Unlisted bonds \| -	3%	₹450 Cr	450
Vedanta Limited Debentures \| -	2%	₹352 Cr	35,000 ↑ 5,000
Small Industries Development Bank Of India Debentures \| -	2%	₹351 Cr	35,000
Piramal Finance Limited Debentures \| -	2%	₹277 Cr	27,500
AU Small Finance Bank Ltd. Debentures \| -	1%	₹234 Cr	5,000 ↑ 5,000
Power Finance Corporation Limited Debentures \| -	1%	₹230 Cr	2,300
LIC Housing Finance Ltd Debentures \| -	1%	₹225 Cr	2,250

4. Aditya Birla Sun Life Savings Fund

The primary objective of the schemes is to generate regular income through investments in debt and money market instruments. Income maybe generated through the receipt of coupon payments or the purchase and sale of securities in the underlying portfolio. The schemes will under normal market conditions, invest its net assets in fixed income securities, money market instruments, cash and cash equivalents.

Research Highlights for Aditya Birla Sun Life Savings Fund

Highest AUM (₹23,615 Cr).
Established history (22+ yrs).
Top rated.
Risk profile: Moderately Low.
1Y return: 7.12% (top quartile).
1M return: 0.34% (bottom quartile).
Sharpe: 3.14 (top quartile).
Information ratio: 0.00 (upper mid).
Yield to maturity (debt): 6.81% (upper mid).
Modified duration: 0.47 yrs (bottom quartile).
Average maturity: 0.53 yrs (lower mid).
Exit load: NIL.
Top sector: Financial Services.
Top bond sector: Corporate.
Conservative stance with elevated cash (~48%).
High-quality debt (AAA/AA ~100%).
Largest holding Shriram Finance Limited (~2.6%).

Below is the key information for Aditya Birla Sun Life Savings Fund

Aditya Birla Sun Life Savings Fund Growth
Launch Date	16 Apr 03
NAV (22 Jan 26)	₹567.087 ↑ 0.36 (0.06 %)
Net Assets (Cr)	₹23,615 on 31 Dec 25
Category	Debt - Ultrashort Bond
AMC	Birla Sun Life Asset Management Co Ltd
Rating	☆☆☆☆☆
Risk	Moderately Low
Expense Ratio	0.55
Sharpe Ratio	3.14
Information Ratio	0
Alpha Ratio	0
Min Investment	1,000
Min SIP Investment	1,000
Exit Load	NIL
Yield to Maturity	6.81%
Effective Maturity	6 Months 11 Days
Modified Duration	5 Months 19 Days

Growth of 10,000 investment over the years.

Date	Value
31 Dec 20	₹10,000
31 Dec 21	₹10,389
31 Dec 22	₹10,884
31 Dec 23	₹11,664
31 Dec 24	₹12,580
31 Dec 25	₹13,510

Aditya Birla Sun Life Savings Fund SIP Returns

Total investment amount is ₹180,000
expected amount after 3 Years is ₹200,132.
Net Profit of ₹20,132 Invest Now

Returns for Aditya Birla Sun Life Savings Fund

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 22 Jan 26

Duration	Returns
1 Month	0.3%
3 Month	1.3%
6 Month	2.8%
1 Year	7.1%
3 Year	7.4%
5 Year	6.2%
10 Year
15 Year
Since launch	7.4%

Historical performance (Yearly) on absolute basis

Year	Returns
2024	7.4%
2023	7.9%
2022	7.2%
2021	4.8%
2020	3.9%
2019	7%
2018	8.5%
2017	7.6%
2016	7.2%
2015	9.2%

Fund Manager information for Aditya Birla Sun Life Savings Fund

Name	Since	Tenure
Sunaina Cunha	20 Jun 14	11.54 Yr.
Kaustubh Gupta	15 Jul 11	14.48 Yr.
Monika Gandhi	22 Mar 21	4.78 Yr.

Data below for Aditya Birla Sun Life Savings Fund as on 31 Dec 25

Asset Allocation

Asset Class	Value
Cash	47.86%
Debt	51.91%
Other	0.24%

Debt Sector Allocation

Sector	Value
Corporate	53.86%
Cash Equivalent	29.6%
Government	16.31%

Credit Quality

Rating	Value
AA	25.17%
AAA	74.83%

Top Securities Holdings / Portfolio

Name	Holding	Value	Quantity
Shriram Finance Limited Debentures \| -	3%	₹615 Cr	60,000
National Bank For Agriculture And Rural Development Debentures \| -	2%	₹547 Cr	54,000
Nirma Limited Debentures \| -	2%	₹486 Cr	48,500
Bharti Telecom Limited Debentures \| -	2%	₹399 Cr	40,000 ↑ 5,000
07.22 GJ Sdl 2028 Sovereign Bonds \| -	2%	₹376 Cr	37,500,000
Muthoot Finance Limited Debentures \| -	1%	₹352 Cr	35,000
Mankind Pharma Limited Debentures \| -	1%	₹347 Cr	34,500
National Bank For Agriculture And Rural Development Debentures \| -	1%	₹304 Cr	30,000
Avanse Financial Services Limited Debentures \| -	1%	₹301 Cr	30,000
Power Finance Corporation Limited Debentures \| -	1%	₹298 Cr	30,000

5. UTI Ultra Short Term Fund

(Erstwhile UTI - Floating Rate Fund - Short Term Plan)

To generate regular income through investment in a portfolio comprising substantially of floating rate debt / money market instruments, fixed rate debt / money market instruments swapped for floating rate returns. The Scheme may also invest a portion of its net assets in fixed rate debt securities and money market instruments .However there can be no assurance that the investment objective of the Scheme will be achieved. The Scheme does not guarantee / indicate any returns.

Research Highlights for UTI Ultra Short Term Fund

Upper mid AUM (₹3,655 Cr).
Established history (22+ yrs).
Rating: 4★ (upper mid).
Risk profile: Moderately Low.
1Y return: 6.43% (lower mid).
1M return: 0.34% (lower mid).
Sharpe: 1.85 (lower mid).
Information ratio: 0.00 (upper mid).
Yield to maturity (debt): 6.78% (upper mid).
Modified duration: 0.47 yrs (bottom quartile).
Average maturity: 0.57 yrs (bottom quartile).
Exit load: NIL.
Higher exposure to Financial Services vs peer median.
Higher exposure to Corporate (bond sector) vs peer median.
Conservative stance with elevated cash (~42%).
High-quality debt (AAA/AA ~100%).
Largest holding India (Republic of) (~8.0%).

Below is the key information for UTI Ultra Short Term Fund

UTI Ultra Short Term Fund Growth
Launch Date	29 Aug 03
NAV (22 Jan 26)	₹4,370.07 ↑ 1.86 (0.04 %)
Net Assets (Cr)	₹3,655 on 31 Dec 25
Category	Debt - Ultrashort Bond
AMC	UTI Asset Management Company Ltd
Rating	☆☆☆☆
Risk	Moderately Low
Expense Ratio	0.93
Sharpe Ratio	1.85
Information Ratio	0
Alpha Ratio	0
Min Investment	5,000
Min SIP Investment	500
Exit Load	NIL
Yield to Maturity	6.78%
Effective Maturity	6 Months 24 Days
Modified Duration	5 Months 21 Days

Growth of 10,000 investment over the years.

Date	Value
31 Dec 20	₹10,000
31 Dec 21	₹10,610
31 Dec 22	₹11,058
31 Dec 23	₹11,802
31 Dec 24	₹12,653
31 Dec 25	₹13,495

UTI Ultra Short Term Fund SIP Returns

Total investment amount is ₹180,000
expected amount after 3 Years is ₹200,132.
Net Profit of ₹20,132 Invest Now

Returns for UTI Ultra Short Term Fund

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 22 Jan 26

Duration	Returns
1 Month	0.3%
3 Month	1.2%
6 Month	2.6%
1 Year	6.4%
3 Year	6.8%
5 Year	6.2%
10 Year
15 Year
Since launch	6.8%

Historical performance (Yearly) on absolute basis

Year	Returns
2024	6.6%
2023	7.2%
2022	6.7%
2021	4.2%
2020	6.1%
2019	5.3%
2018	3.3%
2017	7%
2016	6.6%
2015	8.9%

Fund Manager information for UTI Ultra Short Term Fund

Name	Since	Tenure
Abhishek Sonthalia	10 Nov 25	0.14 Yr.

Data below for UTI Ultra Short Term Fund as on 31 Dec 25

Asset Allocation

Asset Class	Value
Cash	41.94%
Debt	57.71%
Other	0.35%

Debt Sector Allocation

Sector	Value
Corporate	60.02%
Government	22.37%
Cash Equivalent	17.26%

Credit Quality

Rating	Value
AAA	100%

Top Securities Holdings / Portfolio

Name	Holding	Value	Quantity
India (Republic of) - \| -	8%	₹293 Cr	3,000,000,000 ↑ 3,000,000,000
National Bank For Agriculture And Rural Development Debentures \| -	5%	₹201 Cr	20,000
Tbill Sovereign Bonds \| -	4%	₹148 Cr	1,500,000,000 ↑ 1,500,000,000
Shriram Finance Limited Debentures \| -	3%	₹101 Cr	10,000
TATA Communications Limited Debentures \| -	3%	₹100 Cr	10,000
National Bank For Agriculture And Rural Development Debentures \| -	3%	₹100 Cr	10,000
DBS Bank India Ltd. Debentures \| -	3%	₹99 Cr	1,000,000,000
Piramal Finance Limited Debentures \| -	2%	₹86 Cr	8,500 ↑ 3,500
Piramal Finance Limited Debentures \| -	2%	₹75 Cr	7,500
Jamnagar Utilities & Power Private Limited Debentures \| -	2%	₹75 Cr	750

6. Motilal Oswal Ultra Short Term Fund

(Erstwhile Motilal Oswal MOSt Ultra Short Term Bond Fund)

The investment objective of the Scheme is to generate optimal returns consistent with moderate levels of risk and liquidity by investing in debt securities and money market securities. However, there can be no assurance or guarantee that the investment objective of the Scheme would be achieved.

Research Highlights for Motilal Oswal Ultra Short Term Fund

Lower mid AUM (₹513 Cr).
Established history (12+ yrs).
Rating: 1★ (bottom quartile).
Risk profile: Moderately Low.
1Y return: 5.24% (bottom quartile).
1M return: 0.28% (bottom quartile).
Sharpe: -3.63 (bottom quartile).
Information ratio: 0.00 (lower mid).
Yield to maturity (debt): 6.74% (lower mid).
Modified duration: 0.42 yrs (upper mid).
Average maturity: 0.45 yrs (upper mid).
Exit load: NIL.
Top bond sector: Corporate.
Conservative stance with elevated cash (~71%).
High-quality debt (AAA/AA ~100%).
Largest holding Tbill (~14.2%).

Below is the key information for Motilal Oswal Ultra Short Term Fund

Motilal Oswal Ultra Short Term Fund Growth
Launch Date	6 Sep 13
NAV (22 Jan 26)	₹16.9108 ↑ 0.01 (0.03 %)
Net Assets (Cr)	₹513 on 31 Dec 25
Category	Debt - Ultrashort Bond
AMC	Motilal Oswal Asset Management Co. Ltd
Rating	☆
Risk	Moderately Low
Expense Ratio	0.93
Sharpe Ratio	-3.63
Information Ratio	0
Alpha Ratio	0
Min Investment	5,000
Min SIP Investment	500
Exit Load	NIL
Yield to Maturity	6.74%
Effective Maturity	5 Months 12 Days
Modified Duration	5 Months 1 Day

Growth of 10,000 investment over the years.

Date	Value
31 Dec 20	₹10,000
31 Dec 21	₹10,237
31 Dec 22	₹10,606
31 Dec 23	₹11,220
31 Dec 24	₹11,895
31 Dec 25	₹12,544

Motilal Oswal Ultra Short Term Fund SIP Returns

Total investment amount is ₹180,000
expected amount after 3 Years is ₹194,235.
Net Profit of ₹14,235 Invest Now

Returns for Motilal Oswal Ultra Short Term Fund

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 22 Jan 26

Duration	Returns
1 Month	0.3%
3 Month	1.1%
6 Month	2.3%
1 Year	5.2%
3 Year	5.7%
5 Year	4.6%
10 Year
15 Year
Since launch	4.3%

Historical performance (Yearly) on absolute basis

Year	Returns
2024	5.5%
2023	6%
2022	5.8%
2021	3.6%
2020	2.4%
2019	4.3%
2018	6.2%
2017	-8.1%
2016	5.5%
2015	6.4%

Fund Manager information for Motilal Oswal Ultra Short Term Fund

Name	Since	Tenure
Rakesh Shetty	22 Nov 22	3.11 Yr.

Data below for Motilal Oswal Ultra Short Term Fund as on 31 Dec 25

Asset Allocation

Asset Class	Value
Cash	71.29%
Debt	28.41%
Other	0.31%

Debt Sector Allocation

Sector	Value
Corporate	37.95%
Government	33.2%
Cash Equivalent	28.54%

Credit Quality

Rating	Value
AAA	100%

Top Securities Holdings / Portfolio

Name	Holding	Value	Quantity
Tbill Sovereign Bonds \| -	14%	₹73 Cr	7,500,000 ↑ 7,500,000
364 DTB 12022026 Sovereign Bonds \| -	6%	₹30 Cr	3,000,000
T-Bill Sovereign Bonds \| -	5%	₹25 Cr	2,500,000
Bank of Baroda Debentures \| -	5%	₹24 Cr	2,500,000
India (Republic of) - \| -	5%	₹24 Cr	2,500,000
Corporate Debt Market Development Fund Class A2 Investment Fund \| -	0%	₹2 Cr	1,358 ↑ 1,358
Punjab National Bank Certificate of Deposit \| -	5%	₹25 Cr	2,500,000
Muthoot Finance Limited Commercial Paper \| -	5%	₹25 Cr	2,500,000
National Bank For Agriculture And Rural Development Certificate of Deposit \| -	5%	₹25 Cr	2,500,000
Kotak Mahindra Prime Limited Commercial Paper \| -	5%	₹25 Cr	2,500,000

7. Kotak Savings Fund

(Erstwhile Kotak Treasury Advantage Fund)

The investment objective of the Scheme is to generate returns through investments in debt and money market instruments with a view to reduce the interest rate risk. However, there is no assurance or guarantee that the investment objective of the scheme will be achieved.

Research Highlights for Kotak Savings Fund

Upper mid AUM (₹14,243 Cr).
Established history (21+ yrs).
Rating: 3★ (upper mid).
Risk profile: Moderately Low.
1Y return: 6.64% (upper mid).
1M return: 0.37% (upper mid).
Sharpe: 2.06 (upper mid).
Information ratio: 0.00 (lower mid).
Yield to maturity (debt): 6.66% (lower mid).
Modified duration: 0.49 yrs (bottom quartile).
Average maturity: 0.57 yrs (bottom quartile).
Exit load: NIL.
Top sector: Financial Services.
Top bond sector: Corporate.
Conservative stance with elevated cash (~55%).
High-quality debt (AAA/AA ~100%).
Largest holding Bajaj Housing Finance Limited (~4.5%).

Below is the key information for Kotak Savings Fund

Kotak Savings Fund Growth
Launch Date	13 Aug 04
NAV (22 Jan 26)	₹44.2475 ↑ 0.03 (0.06 %)
Net Assets (Cr)	₹14,243 on 31 Dec 25
Category	Debt - Ultrashort Bond
AMC	Kotak Mahindra Asset Management Co Ltd
Rating	☆☆☆
Risk	Moderately Low
Expense Ratio	0.81
Sharpe Ratio	2.06
Information Ratio	0
Alpha Ratio	0
Min Investment	5,000
Min SIP Investment	1,000
Exit Load	NIL
Yield to Maturity	6.66%
Effective Maturity	6 Months 25 Days
Modified Duration	5 Months 26 Days

Growth of 10,000 investment over the years.

Date	Value
31 Dec 20	₹10,000
31 Dec 21	₹10,321
31 Dec 22	₹10,781
31 Dec 23	₹11,515
31 Dec 24	₹12,349
31 Dec 25	₹13,191

Kotak Savings Fund SIP Returns

Total investment amount is ₹180,000
expected amount after 3 Years is ₹197,169.
Net Profit of ₹17,169 Invest Now

Returns for Kotak Savings Fund

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 22 Jan 26

Duration	Returns
1 Month	0.4%
3 Month	1.3%
6 Month	2.7%
1 Year	6.6%
3 Year	6.9%
5 Year	5.7%
10 Year
15 Year
Since launch	7.2%

Historical performance (Yearly) on absolute basis

Year	Returns
2024	6.8%
2023	7.2%
2022	6.8%
2021	4.5%
2020	3.2%
2019	5.8%
2018	7.8%
2017	7.4%
2016	6.7%
2015	8.2%

Fund Manager information for Kotak Savings Fund

Name	Since	Tenure
Deepak Agrawal	15 Apr 08	17.73 Yr.
Manu Sharma	1 Nov 22	3.17 Yr.

Data below for Kotak Savings Fund as on 31 Dec 25

Asset Allocation

Asset Class	Value
Cash	54.54%
Debt	45.14%
Other	0.32%

Debt Sector Allocation

Sector	Value
Corporate	55.15%
Cash Equivalent	24.34%
Government	20.19%

Credit Quality

Rating	Value
AA	10.42%
AAA	89.58%

Top Securities Holdings / Portfolio

Name	Holding	Value	Quantity
Bajaj Housing Finance Limited Debentures \| -	5%	₹644 Cr	6,420
National Bank For Agriculture And Rural Development Debentures \| -	4%	₹581 Cr	57,500
National Bank For Agriculture And Rural Development Debentures \| -	4%	₹572 Cr	57,050 ↑ 50
Rec Limited Debentures \| -	3%	₹476 Cr	47,500
India (Republic of) - \| -	2%	₹319 Cr	32,500,000
364 DTB 19mar2026 Sovereign Bonds \| -	2%	₹307 Cr	31,000,000
Mankind Pharma Limited Debentures \| -	2%	₹302 Cr	30,000
364 Days Tbill Red 28-05-2026 Sovereign Bonds \| -	2%	₹245 Cr	25,000,000
Bank of Baroda Debentures \| -	2%	₹244 Cr	25,000
6.22% Govt Stock 2028 Sovereign Bonds \| -	2%	₹227 Cr	22,500,000

8. IDBI Liquid Fund

The investment objective of the Scheme will be to provide investors with high level of liquidity along with regular income for their investment. The Scheme will endeavour to achieve this objective through an allocation of the investment corpus in a low risk portfolio of money market and debt instruments with maturity of up to 91 days. However, there can be no assurance that the investment objective of the Scheme will be realized.

Research Highlights for IDBI Liquid Fund

Bottom quartile AUM (₹503 Cr).
Established history (15+ yrs).
Rating: 3★ (lower mid).
Risk profile: Low.
1Y return: 6.55% (lower mid).
1M return: 0.53% (top quartile).
Sharpe: 0.20 (lower mid).
Information ratio: -5.96 (bottom quartile).
Yield to maturity (debt): 6.66% (bottom quartile).
Modified duration: 0.10 yrs (top quartile).
Average maturity: 0.11 yrs (top quartile).
Exit load: NIL.

Below is the key information for IDBI Liquid Fund

IDBI Liquid Fund Growth
Launch Date	9 Jul 10
NAV (28 Jul 23)	₹2,454.04 ↑ 0.35 (0.01 %)
Net Assets (Cr)	₹503 on 30 Jun 23
Category	Debt - Liquid Fund
AMC	IDBI Asset Management Limited
Rating	☆☆☆
Risk	Low
Expense Ratio	0.17
Sharpe Ratio	0.2
Information Ratio	-5.96
Alpha Ratio	-0.21
Min Investment	5,000
Min SIP Investment	500
Exit Load	NIL
Yield to Maturity	6.66%
Effective Maturity	1 Month 10 Days
Modified Duration	1 Month 7 Days

Growth of 10,000 investment over the years.

Date	Value
31 Dec 20	₹10,000
31 Dec 21	₹10,338
31 Dec 22	₹10,844

IDBI Liquid Fund SIP Returns

Total investment amount is ₹180,000
expected amount after 3 Years is ₹197,169.
Net Profit of ₹17,169 Invest Now

Returns for IDBI Liquid Fund

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 22 Jan 26

Duration	Returns
1 Month	0.5%
3 Month	1.7%
6 Month	3.4%
1 Year	6.6%
3 Year	4.5%
5 Year	5.3%
10 Year
15 Year
Since launch	7.1%

Historical performance (Yearly) on absolute basis

Year	Returns
2024
2023
2022
2021
2020
2019
2018
2017
2016
2015

Fund Manager information for IDBI Liquid Fund

Name	Since	Tenure

Data below for IDBI Liquid Fund as on 30 Jun 23

Asset Allocation

Asset Class	Value

Debt Sector Allocation

Sector	Value

Credit Quality

Rating	Value

Top Securities Holdings / Portfolio

Name	Holding	Value	Quantity

9. Invesco India Ultra Short Term Fund

(Erstwhile Invesco India Medium Term Bond Fund)

The objective is to generate regular income and capital appreciation by investing in a portfolio of medium term debt and money market instruments.

Research Highlights for Invesco India Ultra Short Term Fund

Lower mid AUM (₹1,234 Cr).
Established history (15+ yrs).
Rating: 3★ (lower mid).
Risk profile: Moderate.
1Y return: 6.62% (upper mid).
1M return: 0.33% (bottom quartile).
Sharpe: 2.41 (upper mid).
Information ratio: 0.00 (bottom quartile).
Yield to maturity (debt): 6.57% (bottom quartile).
Modified duration: 0.46 yrs (lower mid).
Average maturity: 0.48 yrs (lower mid).
Exit load: NIL.
Higher exposure to Corporate (bond sector) vs peer median.
Conservative stance with elevated cash (~56%).
High-quality debt (AAA/AA ~100%).
Largest holding India (Republic of) (~8.0%).

Below is the key information for Invesco India Ultra Short Term Fund

Invesco India Ultra Short Term Fund Growth
Launch Date	30 Dec 10
NAV (22 Jan 26)	₹2,781.44 ↑ 0.92 (0.03 %)
Net Assets (Cr)	₹1,234 on 31 Dec 25
Category	Debt - Ultrashort Bond
AMC	Invesco Asset Management (India) Private Ltd
Rating	☆☆☆
Risk	Moderate
Expense Ratio	0.74
Sharpe Ratio	2.41
Information Ratio	0
Alpha Ratio	0
Min Investment	5,000
Min SIP Investment	1,000
Exit Load	NIL
Yield to Maturity	6.57%
Effective Maturity	5 Months 24 Days
Modified Duration	5 Months 16 Days

Growth of 10,000 investment over the years.

Date	Value
31 Dec 20	₹10,000
31 Dec 21	₹10,303
31 Dec 22	₹10,726
31 Dec 23	₹11,436
31 Dec 24	₹12,291
31 Dec 25	₹13,131

Invesco India Ultra Short Term Fund SIP Returns

Total investment amount is ₹180,000
expected amount after 3 Years is ₹197,169.
Net Profit of ₹17,169 Invest Now

Returns for Invesco India Ultra Short Term Fund

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 22 Jan 26

Duration	Returns
1 Month	0.3%
3 Month	1.2%
6 Month	2.6%
1 Year	6.6%
3 Year	6.9%
5 Year	5.6%
10 Year
15 Year
Since launch	7%

Historical performance (Yearly) on absolute basis

Year	Returns
2024	6.8%
2023	7.5%
2022	6.6%
2021	4.1%
2020	3%
2019	5.1%
2018	7.6%
2017	7.3%
2016	7.1%
2015	9.1%

Fund Manager information for Invesco India Ultra Short Term Fund

Name	Since	Tenure
Krishna Cheemalapati	4 Jan 20	6 Yr.
Vikas Garg	27 Jul 21	4.44 Yr.

Data below for Invesco India Ultra Short Term Fund as on 31 Dec 25

Asset Allocation

Asset Class	Value
Cash	56.06%
Debt	43.61%
Other	0.32%

Debt Sector Allocation

Sector	Value
Corporate	60.05%
Government	26.17%
Cash Equivalent	13.46%

Credit Quality

Rating	Value
AA	16.37%
AAA	83.63%

Top Securities Holdings / Portfolio

Name	Holding	Value	Quantity
India (Republic of) - \| -	8%	₹99 Cr	10,000,000
Small Industries Development Bank Of India Debentures \| -	4%	₹50 Cr	5,000,000
India (Republic of) - \| -	4%	₹50 Cr	5,000,000
Summit Digitel Infrastructure Limited Debentures \| -	3%	₹40 Cr	4,000,000
Sundaram Home Finance Limited Debentures \| -	3%	₹35 Cr	3,500,000
Manappuram Finance Limited Debentures \| -	2%	₹28 Cr	2,800,000
07.86 KA Sdl 2027 Sovereign Bonds \| -	2%	₹26 Cr	2,500,000
Power Finance Corporation Limited Debentures \| -	2%	₹25 Cr	2,500,000
Piramal Finance Limited Debentures \| -	2%	₹25 Cr	2,500,000
Aadhar Housing Finance Limited Debentures \| -	2%	₹25 Cr	2,500,000

10. SBI Magnum Ultra Short Duration Fund

(Erstwhile SBI Magnum InstaCash Fund)

To provide the investors an opportunity to earn returns through investment in debt & money market securities, while having the benefit of a very high degree of liquidity.

Research Highlights for SBI Magnum Ultra Short Duration Fund

Upper mid AUM (₹14,639 Cr).
Oldest track record among peers (26 yrs).
Rating: 3★ (bottom quartile).
Risk profile: Low.
1Y return: 6.79% (upper mid).
1M return: 0.39% (upper mid).
Sharpe: 2.90 (upper mid).
Information ratio: 0.00 (bottom quartile).
Yield to maturity (debt): 6.49% (bottom quartile).
Modified duration: 0.43 yrs (upper mid).
Average maturity: 0.48 yrs (upper mid).
Exit load: NIL.
Top sector: Financial Services.
Top bond sector: Corporate.
Conservative stance with elevated cash (~69%).
High-quality debt (AAA/AA ~100%).
Largest holding 5.63% Govt Stock 2026 (~4.7%).

Below is the key information for SBI Magnum Ultra Short Duration Fund

SBI Magnum Ultra Short Duration Fund Growth
Launch Date	21 May 99
NAV (22 Jan 26)	₹6,172.14 ↑ 2.53 (0.04 %)
Net Assets (Cr)	₹14,639 on 31 Dec 25
Category	Debt - Ultrashort Bond
AMC	SBI Funds Management Private Limited
Rating	☆☆☆
Risk	Low
Expense Ratio	0.54
Sharpe Ratio	2.9
Information Ratio	0
Alpha Ratio	0
Min Investment	5,000
Min SIP Investment	500
Exit Load	NIL
Yield to Maturity	6.49%
Effective Maturity	5 Months 23 Days
Modified Duration	5 Months 5 Days

Growth of 10,000 investment over the years.

Date	Value
31 Dec 20	₹10,000
31 Dec 21	₹10,337
31 Dec 22	₹10,798
31 Dec 23	₹11,549
31 Dec 24	₹12,406
31 Dec 25	₹13,273

SBI Magnum Ultra Short Duration Fund SIP Returns

Total investment amount is ₹180,000
expected amount after 3 Years is ₹197,169.
Net Profit of ₹17,169 Invest Now

Returns for SBI Magnum Ultra Short Duration Fund

Returns up to 1 year are on absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 22 Jan 26

Duration	Returns
1 Month	0.4%
3 Month	1.4%
6 Month	2.8%
1 Year	6.8%
3 Year	7.1%
5 Year	5.9%
10 Year
15 Year
Since launch	7.1%

Historical performance (Yearly) on absolute basis

Year	Returns
2024	7%
2023	7.4%
2022	7%
2021	4.5%
2020	3.4%
2019	5.9%
2018	8%
2017	7.9%
2016	6.6%
2015	7.7%

Fund Manager information for SBI Magnum Ultra Short Duration Fund

Name	Since	Tenure
Sudhir Agrawal	15 May 25	0.63 Yr.

Data below for SBI Magnum Ultra Short Duration Fund as on 31 Dec 25

Asset Allocation

Asset Class	Value
Cash	68.52%
Debt	31.15%
Other	0.32%

Debt Sector Allocation

Sector	Value
Corporate	44.84%
Cash Equivalent	41.34%
Government	13.5%

Credit Quality

Rating	Value
AA	16.58%
AAA	83.42%

Top Securities Holdings / Portfolio

Name	Holding	Value	Quantity
5.63% Govt Stock 2026 Sovereign Bonds \| -	5%	₹685 Cr	68,500,000
National Bank For Agriculture And Rural Development Debentures \| -	4%	₹546 Cr	54,500
HDFC Bank Ltd. Debentures \| -	3%	₹493 Cr	10,000
Ntpc Limited Debentures \| -	2%	₹349 Cr	34,800
Canara Bank Domestic Bonds \| -	2%	₹297 Cr	6,000
RADHAKRISHNA SECURITISATION TRUST Unlisted bonds \| -	2%	₹255 Cr	255
Citicorp Finance (India) Limited Debentures \| -	2%	₹250 Cr	25,000
Bank of Baroda Debentures \| -	2%	₹248 Cr	5,000 ↓ -1,000
IDFC First Bank Ltd. Debentures \| -	2%	₹248 Cr	5,000
Treasury Bill Sovereign Bonds \| -	2%	₹239 Cr	25,000,000

Disclaimer:
यहां प्रदान की गई जानकारी सटीक है, यह सुनिश्चित करने के लिए सभी प्रयास किए गए हैं। हालांकि, डेटा की शुद्धता के संबंध में कोई गारंटी नहीं दी जाती है। कृपया कोई भी निवेश करने से पहले योजना सूचना दस्तावेज के साथ सत्यापित करें।